The price action of Bitcoin as the leading cryptocurrency by market capitalization continues to trend upwards, yet even as the price of Bitcoin continues to rise, retail traders are paralyzed.
I clarify when I say that the price of Bitcoin continues to rise but retail traders are paralyzed, I express it that way because very despite the good and positive moment that the market is experiencing in bullish orientation retail traders still do not take positions that favor them.
I take this opportunity to share with you some notes socialized by Marcel Pechman in cointelegraph who recently indicated that "Despite recent bullish momentum, analysts have noted that retail demand remains relatively stagnant. Some attribute this to the side effects of an inflationary environment and diminished interest in credit, as interest rates continue to hover above 5.25%."
According to Pechman, "Numerous U.S. economic indicators have reached record highs, spanning wages, salaries and household net worth. However, Ed Yardeni, an analyst, suggests that the "Santa Claus rally" may have occurred earlier this year, with the S&P 500 gaining 8.9% in November."
To wit "This increase reflected declining inflationary pressures and solid employment data. However, investors remain cautious, with approximately USD 6 trillion in "dry powder" parked in money market funds, waiting on the sidelines."
Now it begs the question, did retail traders miss out on the recent gains in bitcoin and Ether, I would like to know your appreciation.
SOURCES CONSULTED
Cointelegraph. Bitcoin price hit 2023 high, so why are retail traders waiting on the sidelines?. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
Greetings dear @lupafilotaxia, thank you for sharing these preciations about the bitcoin price with us, it shows us a panorama of what may be happening.
See you later, have a great week.
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To ease these worries and get regular traders to take positive positions, it is important to teach them the basics of Bitcoin and the cryptocurrency market and give them access to resources that do so. This can mean giving them access to good sources of information, educational materials, and tutorials. To get retail traders to move forward tunnel rush, it's important to build trust and confidence in the market.
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